As a result of the partnership with the commercial arm of the Government’s economic development bank, Ultimate Finance has secured an additional £25m debt facility.
This means that Ultimate Finance can now lend to even more SMEs, therefore further helping its support to NACFB members.
The total facilities for Ultimate Finance has now increased to £75m.
The extra £25m funding is being provided as a three-year syndicated back-to-back facility with Lloyds Bank.
“The British Business Banks’s route to market is through established or newly emerging finance market providers,” said Jeremy Coombes, CEO of Ultimate Finance Group.
“We are therefore delighted to have been selected to work with them to help fuel growth in the economy through responsible lending to SMEs, at a time when the traditional high street banks are constrained.
“Their programme very much mirrors our own, which is to bring benefits to smaller businesses that are start-ups, high growth, or simply viable but underfunded.”
Ultimate Finance increased its loan book by a colossal 60.8% last year, where revenue and client volumes climbed by 21.8% and 36.3% respectively.
Ultimate Finance is sponsoring this year’s Commercial Finance Expo on the 17th June at stand D18.
To register for the NACFB CFE, click here.
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